VC | Global Venture Partners

2022-12-13 12:38:36 Fintech platform Avant has raised $250m.

Private financial technology company Avant, specialising in middle class American lending, has raised $250m.

Ares Management Alternative Credit was the lead investor.

This is the second largest investment in the venture capital market last week.

According to Crunchbase, the company, founded in 2012, has already raised more than $2 billion.

The platform uses proprietary technology to determine an individual's creditworthiness, which relies on algorithms, machine learning protocols and analytical tools, in addition to standard consumer data to determine the individual rate, amount and term for which a loan can be taken out.

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2022-12-12 13:47:20 Fanatics raises $700m at $31bn valuation

Sports retail giant Fanatics Inc has raised $700m in another funding round.

The round was led by private equity firm Clearlake Capital Group, which marked its recent purchase of English football giant Chelsea.

60% of the funds came from new investors, including LionTree, but previous investors including Fanatics SoftBank, Silver Lake and Fidelity also joined the investment. The round raised the company's value to $31 billion.

Fanatics, Inc. - is the world's largest seller of licensed sporting goods, NFT, collectible cards, as well as sports betting and iGaming.

The company is currently split into three brands: Fanatics Commerce, which houses its core merchandise business; Fanatics Collectibles, which includes collectible cards; and Fanatics Betting & Gaming.

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2022-12-08 16:11:36 Cybersecurity fintech startup Drata has closed a $200 million round.

The cyber governance, risk and compliance sector has long attracted interest from investors around the world.

For example, Drata, which specializes in security and control automation, raised $200 million in a Series C financing round and reached a valuation of $2 billion. The round was led by ICONIQ Growth and GGV Capital.

The platform mainly helps companies comply with security requirements by monitoring compliance with various regulatory requirements.

Overall, the company's growth rate is fairly proactive. The seed round was held in January '21, the Series A was closed in June of that year, and the company was granted Unicorn status in November based on the results of the Series B round.

According to Crunchbase, Drata has raised more than $328 million in less than two years.

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2022-12-07 19:01:14 Indian HealthKart on Monday closed a $135 million round.

Indian marketplace HealthKart closed a $135 million Series H funding round this week, led by Temasek Holdings with participation from A91 Partners and Kae Capital.

HealthKart is an online marketplace that sells supplements, vitamins, protein powders and weight loss products. The company has created several brands of its own and plans to use the funding to expand beyond its Web site by penetrating other online retailers.

"Promoting fitness and preventive health by bridging the nutrition gap is a systemic trend that is gaining momentum in India," said Samir Maheshwari, founder and CEO.

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2022-12-07 12:38:30 Electric car manufacturer VinFast launches its IPO.

Vietnamese luxury electric car manufacturer VinFast will conduct an initial public offering. On the eve the company filed a respective application.

The shares will be listed on Nasdaq under the ticker "VFS". The number of shares and the price range of the offering have not been disclosed yet.

The date of the IPO is also not called, most likely the company will go public next year, although it was initially known that the output on the stock exchange is scheduled for the fourth quarter of this year.

The startup recently unveiled four SUVs at the Los Angeles Auto Show and has already begun production and delivery of the vehicles. The automaker shipped its first batch of 999 vehicles to the U.S. late last month.

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2022-12-06 17:53:56 AI startup Anduril has closed a large $1.5 billion funding round

Defense development company Anduril closed a $1.5 billion round in a Series E funding round, raising the company's valuation to $8.5 billion.

The round was one of the largest of the year. In April, Epic Games , raised $2 billion, and then in June, SpaceX raised nearly $1.7 billion.

The company was backed by Valor Equity Partners with participation from Founders Fund , Andreessen Horowitz , General Catalyst , 8VC. , Lux Capital , Thrive Capital , DFJ Growth , Elad Gil , Lachy Groom , Human Capital , Marlinspike , WCM Investment Management , MVP Ventures , Lightspeed Venture and US Innovative Technology Fund.

Anduril builds software and hardware with artificial intelligence and machine learning for the military and defense industries. The company works on drones, underwater vehicles and various control and monitoring systems.

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2022-12-02 09:30:08 Multifunctional Stripe Payment Platform (https://stripe.com/) launches a payment product to convert fiat into cryptocurrency for Web3 applications. The new service has direct integration with wallets, DEX, NFT platforms and other decentralized applications.

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2022-11-23 15:25:02 Hyperloop will go public through a SPAC deal.

The vacuum train project launched in 2013 by Ilon Musk, Hyperloop Transportation Technologies, in the so-called SPAC deal, has entered into a merger agreement with Forest Road Acquisition Corp. II.

The preliminary valuation of the securities to be offered will be about $600 million.

Hyperloop technology is a vacuum tube-based system that moves people and goods by levitating capsules at the speed of an airplane on the ground. The high speeds are to be achieved "by using passive magnetic levitation technology and a linear electric motor in the tube with minimal pressure to reduce drag."

The goal of the project is to launch a clean, safe and efficient mode of transportation.

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2022-11-22 13:07:49 Semiconductor maker Astera Labs has become a unicorn.

Fintech startup Astera Labs became a unicorn after raising $150 million in a Series D round led by Fidelity Management and Research. The round raised the company's valuation to $3.2 billion.

Astera Labs provides data and memory connectivity solutions for the world's largest chip makers, which include Intel and Taiwan Semiconductor Manufacturing Co.

The rapid growth of Artificial Intelligence and Machine Learning industries has led to complex computational processes that need to be kept up to date. Astera Labs' purpose-built data and memory connectivity solutions eliminate so-called performance bottlenecks in data-centric systems.

At the Open Compute Project Summit in 2022, Astera Labs predicted that by 2025, 49% of the world's data and 59% of all servers will be in public clouds.

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2022-11-16 11:35:42 Multimedia editing app Descript has received an investment from OpenAI.

Artificial intelligence-based audio and video editing app Descript has completed a $50 million Series C funding round.

The round was led by startup fund OpenAI. The project was also backed by Andreessen Horowitz, Redpoint Ventures, Spark Capital and former Y Combinator partner Daniel Gross.

The platform, aimed at novice podcasters and videographers unfamiliar with editing tools, allows users to create instant transcripts of audio and video that can then be trimmed and combined with music, photos and other content. Many of the editing features are based on artificial intelligence.

"I founded Descript with the idea of creating a simple, intuitive, full-featured video and audio editing tool - an editing tool designed for the age of artificial intelligence," said CEO Andrew Mason.

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